Ashwini Vaishnaw on India’s chip push; Emergent's new AI bet
Happy Monday! The next set of investments under India’s semiconductor scheme are expected to begin in the next six months, IT minister Ashwini Vaishnaw told us. This and more in today’s ETtech Morning Dispatch.
India's semiconductor mission, ISM 2.0, is attracting significant investment interest, with $12 billion pledged across various sectors, according to Ashwini Vaishnaw, the Union Minister of Electronics & IT. Vaishnaw highlighted that the government's strategy focuses on leveraging design talent while concentrating fabrication facilities on niche products and advanced packaging ecosystems.
The ministry is also consulting AI developers, academia, and Big Tech to establish a techno-legal framework for regulating AI agents and ensuring online safety, particularly in areas such as child protection and algorithm-driven addiction. Meanwhile, Emergent, a startup co-founded by Mukund Jha, is shifting its focus from AI software to business automation.
Jha's company develops agents capable of handling tasks like cash-flow analysis, scheduling, and social media management for small businesses. This strategic pivot comes after Emergent's founder, Mukund Jha, won the Comeback Kid prize at The ET Startup Awards 2026 for revitalizing his AI startup after his previous venture, Dunzo, faced challenges.
Additionally, there are discussions among merchants about circumventing the new merchant default rate (MDR) regime by splitting larger bills into multiple payments of Rs 2,000 or less, potentially exploiting the existing daily cap on repeat UPI payments.
Written by urgent.news from Economic Times Tech's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
